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Accessing funds at retirement

In general, you won’t be able to access your KiwiSaver savings until you reach the age of eligibility for New Zealand Superannuation, currently 65. Find out more about your KiwiSaver options at 65

You may be able to withdraw your savings earlier in these circumstances, if you meet the relevant early withdrawal criteria:

How much you could withdraw

You’ll be able to withdraw all your member, employer and government contributions. These withdrawals are tax-free.

You don’t have to withdraw all of your KiwiSaver savings. You can choose how you would like your money to be paid, e.g. a one-off lump-sum payment or regular withdrawals to supplement your income.

Your options

Set up a regular withdrawal

This is a convenient way to manage your money and supplement your pension or any other retirement income you have. You can choose an amount and payment frequency that works best for you, subject to the minimum withdrawal amounts. It can take up to 10 business days to deposit the funds into your nominated account.

Take lump sum withdrawals whenever you want

Keep your money working hard in your BNZ KiwiSaver Scheme account and use it to meet any one-off expenses by making withdrawals as and when you need to. It can take up to 10 business days to deposit the funds into your nominated account.

Withdraw all your savings

You can choose to withdraw all your savings and government contributions in one go. If you choose this option, we’ll close your BNZ KiwiSaver Scheme account for you. It can take up to 15 business days to process and deposit the funds into your nominated account.

Leave your BNZ KiwiSaver Scheme account as is

If you don’t need your retirement savings straight away, you can keep it where it is. Your savings will continue to be invested by professional investment managers and you can still make lump sum or regular contributions to grow them further. However you will no longer be eligible for government contributions, and your employer can also choose to stop making contributions.

Withdrawing all or part of your KiwiSaver savings

First time withdrawal application

1. Fill in the BNZ KiwiSaver Scheme retirement withdrawal application form (PDF 132KB).

2. Take the form to a Justice of the Peace, solicitor of the High Court of New Zealand, notary public, or another person authorised to complete the statutory declaration section of the form.

3. Drop the completed form into any BNZ branch or post it to:

Freepost BNZ KiwiSaver Scheme
Private Bag 92208
Auckland 1142
New Zealand

Subsequent withdrawal

Once your first application form is approved, you can email us to request a subsequent withdrawal. It can take up to 10 business days to deposit the funds into your nominated account.

Contact us for more information

If you would like more information about your options, or you need any help completing the withdrawal form, call us on 0800 269 5494 or email KiwiSaver_Support_Team@bnz.co.nz.